The globalist-controlled economy is set to deliver Donald Trump a five-trillion+ dollar face slap. So goes the whispers of some longtime anti-Trumpers in D.C. and Wall Street. The timing of the calamitous “correction” is to be soon and the Establishment Media is already preparing the “blame Trump” 24/7 storylines.
The motivation is simple. These economic giants and their political pawns want to develop a nationwide Trump backlash among tens of millions of Middle Class voters who remain loyal to the President. They have determined the best way to do that is to reach into voters’ collective pockets and rip out some cash in the form of a market correction/crash that will decimate savings, retirement accounts, and the ability to make month-to-month payments.
There are definite signals something is afoot. The dollar has weakened in recent days. The pace of high yield debt sales is quickly increasing. Long-term and short-term bond sales are at nearly the same levels – a development that normally precedes a significant economic slowdown – or possible recession.
Congress has its hands all over these developments. Senate Majority Leader Mitch McConnell continues to chip away at what was initially sweeping Trump-proposed tax cuts and reforms. Now? The McConnell-directed cuts are minimal and the reforms are nearly non-existent. He and others in Congress who share his anti-Trump views will not allow the President to succeed in giving the American Middle Class the kinds of tax cuts and reforms it so desperately needs for such cuts and reforms would initiate the kind of economic growth not seen in more than twenty years and that would be a clear victory for the Trump administration.
McConnell is doing all he can to make certain that doesn’t happen. He wants a weakened Trump in 2018 and beyond to ensure Trump either decides to not run for a second term or is defeated in the primaries by an Establishment candidate who has the approval of McConnell and the globalist powers who finance his existence.
The economic shakeup is to coincide with an even more strident scandal-ridden attack on POTUS Trump primarily created by Deep State operatives whose primary goal remains destroying the President. No deference will be given. No accusation deemed too low.
The greatest hope to counter this effort is for Mr. Trump to somehow navigate a legislative tax cut/reform victory in Congress before the end of the year. He does have a handful of allies in Congress attempting to help him do so. These are men and women pure of heart and purpose who know the extent of the D.C. swamp’s desire for self-preservation.
And as always, POTUS Trump has YOU.
Will it be enough?
We’re about to find out.
Senate Majority Leader Mitch McConnell and his Establishment Senate cohorts are feeling some heat this week. The more conservative wing of the House has managed to push House Speaker Paul Ryan into a scheduled vote on a proposed tax cut bill which will then place focus on McConnell who continues to quietly push his colleagues to either delay or water down the Trump-inspired tax changes to make them little more than a symbolic gesture. Allowing Mr. Trump a significant legislative win is the last thing McConnell is said to want to be a part of – a fact the President is well aware of.
The problem for Senator McConnell is that the Trump White House is currently riding high on the success of the Asia trip and Mr. Trump is said to be more determined than ever to see a tax reform bill get through Congress before the end of the year. Further complicating matters for McConnell is a small but increasingly focused insurgency going on within the Senate itself said to be led in part by Kentucky Senator Rand Paul.
The former political rivals have become stronger allies of late. Though the two don’t always agree politically, Trump values Senator Paul’s honesty. The President feels when Paul gives him his word on something he can be trusted to keep that promise – a rare thing among the political swamp rats of D.C.
Whispers continue to swirl that West Virginia Senator Joe Manchin is considering breaking with his party and voting with Republicans on the tax cut bill. It is the White House’s hope Manchin’s example will spur a few other Democrat senators to do the same. This would add yet further pressure on McConnell to push the legislation forward to a vote soon after the House succeeds in doing so.
Within hours of AF1 setting down back in D.C. the President will travel to Congress to meet in person with the House Republican leadership. It is a meeting Speaker Paul Ryan might not have agreed to just a few months earlier but now with his own re-election bid looming in 2018 he has apparently grown more favorable to at least appearing to want to work with POTUS Trump. This move was likely further aided by growing discontent among more conservative Republicans in the House regarding what they view to be Ryan’s ineffective and Establishment-driven tenure as Speaker.
Watch for some serious work taking place between the Trump White House and leading members of Congress over the next 72-hours.
Mr. Trump is very motivated to get this tax bill done as he feels the American people don’t just deserve it but truly need it.
President Donald J. Trump is said to be shaking his head (again) at the Republican leadership in Congress who are now proposing to RAISE the tax bracket on low-income Americans. Yes, you read that right.
These Republicans are quick to point out that while they are doing that, they are also proposing to double the individual and married deduction rates to $12000 and $24000, respectively – meaning the proposal is actually a significant tax deduction.
While that might be true numbers-wise, POTUS Trump is reportedly uneasy with the complication of selling something to the American people that has the lowest tax bracket being raised from 10 to 12 percent and then having to explain that the raise in rate will be more than offset by raising the deduction rate.
You see, even in trying to explain it things come off a bit confusing and Mr. Trump wants to keep things simple. Congress on the other hand seems all about complication on top of complication.
“IDIOTS! WHY NOT KEEP THE RATE THE SAME AND STILL RAISE THE DEDUCTION RATE? THAT’S SOMETHING WE CAN SELL TO THE PEOPLE . DEMOCRATS CAN’T OPPOSE THAT.”
So bellowed a member of the Trump inner circle earlier this week. POTUS Trump is scheduled to speak about the pending tax plan to a large crowd of supporters in Indiana but will likely be short on details. He wants to leave the door open for further negotiation and simplification of what is still coming out of Congress.
The good news is rates are going down and there will be fewer brackets, perhaps as few as three from the current number of seven. If Republicans do actually give Mr. Trump what he wants it will be the most significant tax system overhaul since Ronald Reagan’s reform in the 1980’s that resulted in the booming economy of the 1990’s. (And it should be noted Bill Clinton drastically reduced capital gains taxes at that time as well which gave a powerful economic 1-2 punch that worked in conjunction with the earlier Reagan tax cuts. Yes, there was a time when Democrats were willing to lower taxes.)
With yet another failed attempt to repeal and replace Obamacare, tax reform remains the most important opportunity for Mr. Trump to deliver something legislatively significant to the American people.
Will Congress let him?
We should know soon.
POTUS Trump has had enough of pretend Republicans doing nothing especially when it comes to opportunities to help the American people. Figures like Paul Ryan and Mitch McConnell, Establishment relics who are vainly trying to cling to power have repeatedly proven to be the greatest obstructionists to the Trump agenda than any Democrat in Congress.
So with that as his backdrop, Mr. Trump is now waging an all out assault on getting a major tax cut to the American Middle Class – obstructionist Republicans be damned.
Via the NYT:
Trump Will Work With Either Democrats or Republicans to Achieve Tax Overhaul
“If we can’t get 60 votes, we’re prepared to use reconciliation to get it done,” Steven Mnuchin, the Treasury secretary, said at a CNBC conference on Tuesday.
The comments come as the White House and Republicans in Congress are working to release the outlines of a plan to overhaul the tax code sometime later this month. Mr. Mnuchin said that he remained hopeful that a tax bill could be passed by the end of the year.
POTUS Trump has laid out some general and lofty tax reform goals. Whispers indicate he’s willing to concede some of those as leverage to getting a bipartisan bill through Congress – a signal the President is pivoting to his lifelong experience as a deal-maker. The first six months of his presidency has been marred by Congress’s repeated rebuke of the President’s agenda.
It appears POTUS is now prepared to amp up the public pressure to try and force Congress to get something done and stop worrying about merely holding on to their House or Senate seats.
Word is this approach is working which could set up a very successful and ultimately beneficial 2018 for the American people.